BMO Capital upgraded Canadian Tire (CDNAF) to Outperform from Market Perform with a price target of C$170, up from C$155. The recent share price decline, Canadian Tire’s balance sheet deleveraging through 2024, and sale of Helly Hansen create a “asymmetrical risk/reward set-up with more potential upside than downside for the stock,” the analyst tells investors in a research note.
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